Since the new iPhone X was released, everyone’s been talking about the technology behind face recognition. Owing to this, plenty of major firms are investing it its potential and future opportunities, from security enterprises to payment solution providers to travel industry.
Facial recognition relies on a series of algorithms. Here, the software system identifies a face in the frame, and then makes a range based on age and physical traits. To increase its further reliability, researchers use demographic information and software that contains records of private data, race, and gender to improve its performance.
Imagine wearing a device like the Google Glass, loaded with a software system that could recognize each and every object as one passes on the retail shop and customers can pay instantly. Technology can be both unimaginable and alarming often at the same time. That’s certainly the case with the new biometric identification payment technology. Face payments might sound like fantasy; however, nowadays it’s an emerging technology.
The revolutionary technology behind face recognition has evolved to a great extent, and it can currently be used without threat or danger for money transactions. Newer methods like artificial intelligence and machine learning are actively employed to spot an individual with spot-on accuracy. Chinese search giant BAIDU has successfully demonstrated that its software system can beat humans at automatic face recognition. Over the coming years, this technology may bring some convenience to the customer’s life in the form of guaranteed additional safety than traditional passwords. However, at the same time, it may increase the management over people.
This technology’s standout attribute is that it is not required to even take the smartphone out from the pocket. As long as customers are registered with a particular payment wallet, the prime thing required is a literal self to buy products. Well, there’s one small pain point – it requires customers e-mail address for additional verification – which stops this from being truly revolutionary.
Know-how of Face Recognition TechnologyÂ
The key to biometric authentication software is accuracy. Without supplemental sorts of identification, the facial recognition software system must be extraordinarily accurate to have any use in the slightest degree. Let’s have a look at how the face payment works.
- First, the user needs to upload a pictureof self to the system.
- Next, the software analyzesthe facial biometric data, and up to 83 different key points are being tracked on the face. A person’s face can be identified with an incredible 99% accuracy.
- Lastly, the system uses artificial intelligence and deep learning techniques. These are especially effective for image recognition because it focuses on the specific facial features that will identify a person most reliably.
As an added level of security, facial recognition software often includes an aliveness test. To prevent foul play, users are often asked to turn their head slightly and/or talk while the software analyzes their face. This stops someone from simply holding up a picture of someone they wish to impersonate.
Face Recognition Offerings to the Consumers
- The Improved Security Levels: A face biometric system greatly improves security measures. All corporations’ premises would be protected since companies will be able to track both the employees and any customers that come into the area.
- High Accuracy Rates: These days, the success level of face tracking technology has become more evident than before. Thanks to the assistance of 3D identity verification technologies and infrared cameras, the process of identification happens to be incredibly accurate and is showing impressive results.
- Full Automation: Instead of manual recognition, which is done by the official representatives, the facial recognition technology automates the identification process and ensures its flawlessness every time without any halting. So, the organization won’t even need an employee to monitor the customers. Instead, the automated processes will provide convenience and reduce their expenses as well. Therefore, any entrepreneur would be fond of making image identification systems fully automated.
- Forget the Delay of Time: One of the major benefits that facial recognition payment technology offers is that there is no delay in time. Customers won’t need to stand in a queue for long hours.
- Convenience: Offices and apartments can use the technology to grant access, and now, wanting to join the band-wagon, retail stores are hoping to improve the customer experience with such a quick and easy mode of payment.
- Privacy: Artificial Intelligence powered facial payment technology enables the biometrics technology as well as track customer habits and preferences, which can be used to make future recommendations. Since the facial recognition platform already knows what the customer might be ordering, it further enhances customer loyalty and provides a frictionless user experience.
- Speed: Nowadays, on an average, it takes nearly half a minute to pay. With face recognition technology, the payment experience will become nearly 30 times faster.
Companies who have adopted the Face Recognition Payment Option
- CaliBurger, LLC: The leading food joint allows customers to pay their meal with a smile.
- BBVA Compass: This Spanish-based banking group has launched a facial recognition system.
- Alibaba Group Holding Limited: The team of the Chinese multinational conglomerate is helping their customers to pay through facial recognition system.
Concluding, the obvious use of face recognition technology involves smooth payment transactions. Instead of using a MasterCard, which can be stolen, customers can begin making purchases with their face. This technology definitely represents a breakthrough in the field of international development, along with being a scientific achievement. Thanks to these identity verification systems, the planet can become a safer and an efficient place, capable of reaching unbelievable heights in the blink of an eye.
